Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $2,000,000 Selling expenses-variable $55,000 Direct materials 520,000 Selling expenses-fixed 52,000 Direct labor 390,000 Administrative expenses-variable 25,000 Manufacturing overhead-variable 410,000 Administrative expenses-fixed 128,000 Manufacturing overhead-fixed 300,000 Prepare a CVP income statement for 2020 based on management's estimates. CRANE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 2000000 Variable Expenses Cost of Goods Sold 410000 Selling Expenses 55000 i Administrative Expenses 25000 i Total Variable Expenses 1400000 i Contribution Margin 600000 Fixed Expenses Cost of Goods Sold 300000 i Selling Expenses 52000 i Administrative Expenses 128000 i Total Fixed Expenses 480000 i Net Income/(Loss) 120000 * Your answer is incorrect. Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places, e.g. 1,225.) (1) Compute the break-even point units (2) Compute the break-even point $ e Textbook and Media * Your answer is incorrect. Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 25%.) Contribution margin ratio % Margin of safety ratio % e Textbook and Media X Your answer is incorrect. Determine the sales dollars required to earn net income of $180,000. (Round answer to 0 decimal places, e.g. 1,225.) Required sales dollars $ eTextbook and Media